Tag Archives: Mortgage Bankers Association (MBA)

Eclipsing the 3% mark for the first time since April, fixed-rate mortgages hit 3.05% this week, with inflationary pressure building due to lingering pandemic issues, and a constricting monetary policy.

Mortgage application volume held steady week-over-week according to a new report, as a slight drop in refis was countered by a rise in home purchases.

As mortgage rates edge above the 3% mark, borrower incentive to refinance is waning.

Rates have inched higher and higher over the past few weeks, finally moving past the 3% mark for the first time since late May.

With mortgage rates still in refi-friendly territory, dropping week-over-week, according to Freddie Mac’s weekly report.

Mortgage application volume rose slightly over last week, driven by a five-month high in purchase volume hot lows last seen in July.

Freddie Mac reports mortgage rates leveling off as COVID variants have led to weaker employment, a drop-off in spending, and declining consumer confidence.

Purchase apps have slid week-over-week, while the demand for refis has leveled off, as August saw a boost in the supply of homes nationwide.

Freddie Mac reports that rates are stabilizing, along with a modest improvement in the nation’s housing supply, as more homebuyers are poised to take advantage of these still-record-low rates.

Economic uncertainty and a rise in Delta variant cases has kept mortgage rates low over the past month, with refinance volume wavering, yet continuing to outpace purchase apps.